MünchenerHyp financing Gallileo, a Grade A office building in Frankfurt
Münchener Hypothekenbank eG (MünchenerHyp) is providing a long- term loan of € 140 million to finance the purchase of the Gallileo, a Grade A office building in Frankfurt am Main.
The Bank is acting as the sole underwriter, lender und agent for CapitaLand, one of biggest property firms in Asia and their Singapore-based REIT, CapitaLand Commercial Trust
Gallileo is one of the landmarks of Frankfurt’s business district. The building’s 40,500 square metres of office space are largely let on a long-term basis.
“The transaction is part of our strategy to intensify our collaboration with non-European investors. We are pleased that we were able to win one of the leading property firms in Asia as a client”, said Bernhard Heinlein, member of Münchener Hypothekenbank’s Board of Management.
Thomas Völker, Head of Commercial Real Estate Finance – International Direct Clients adds: “In addition to MünchenerHyp’s underwriting capabilities, the decisive factors for this financing were the combination of the structure of the financing, the speed with which loan was processed and the Bank’s high degree of reliability from the initiation of contact through to the actual payment of the loan.”